Georgia Tax on 18 Month Lease

[besteffort]

I am interested in an 18 month lease on Air Touring. I live in Georgia. My Sales Advisor says I need to pay GA taxes on full vehicle price instead of on (total monthly payments + down payment). I sent him official Georgia gov link (https://dor.georgia.gov/tavt-calculation-new-leased-vehicles-hb-340-2017-0) to forward to Lucid Finance. He came back saying they said I need to pay taxes on full vehicle price. Is anyone here from Georgia experienced this on lease?

 

[blaferty]

The law changed again eff Jan 1, 2022. Sales tax for lease is due on depreciation (not even total lease payments) & other amortized costs & down payment.
I noticed how high tax number was on Lucid calculator.
Lmk if you get Lucid to recognize latest change.

 

[besteffort]

Thank you. I did provide the links and form to Lucid. They did come back and acknowledge that my tax due will be lower and I am still waiting for my contract to see those corrections.

 

[besteffort]

Finally, I received my lease contract with updated Georgia taxes done correctly but they collected the taxes upfront instead of adding to monthly payment. I picked up my car yesterday from the Roswell location.

 

[blaferty]

Congrats! nice to have a local service center.
It appears TAVT is due in full per the MV-7L form.
Tax is due at time of registration in the case of a purchase as well.
Lucid sales rep said he has submitted request to IT dept to correct GA TAVT calculation on their web site calculator.

 

[blaferty]

I received license plate from GA DMV with breakdown of fees & TAVT. Lucid collected full year for Alternative Fuel Vehicle fee. DMV prorates until
next birthday. Also TAVT was about half of Lucid's number per lease docs.
I have forwarded to financial services for explanation.

 

[besteffort]

I also received my GA plate and noticed a difference as well. I sent it to my SA today. Let's see what happens. Did they ask you to fill out W9 to receive cash rebate?

 

[blaferty]

In my case Referral credit was a reduction of Cap cost, not a cash rebate.